CS Executive Corporate and Management Accounting PYQ June 2021: Question Paper and Available Answers

CS Executive Corporate and Management Accounting PYQS Series June 2021 100 Questions Indexed

ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Corporate and Management Accounting PYQS (June 2021). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.

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Indexed questions

For the purpose of Cash Flow Statement, 'Cash Equivalents' include :
A Company has a Net Cash Sale of ₹6,00,000, Cash Expenses ₹2,80,000 and Depreciation ₹50,000. Cash from Operating Activity should be :
Cash Inflow before working capital changes is ₹4,80,000, decrease in inventory is ₹60,000, increase in receivables position is ₹80,000 and increase in payables position is ₹70,000,
Debentures interest paid is ₹80,000, Proposed dividend on equity shares is ₹1,50,000, Preference dividend paid is ₹1,20,000, Provision for tax is ₹90,000, then cash outflow from fi
The original cost at which an asset or liability is acquired is known as ............
AS-11 issued by ICAI deals with ............
Cash flows arising from the purchase and sale of dealing or trading securities are classified as :
Ravi Ltd. purchased goods at the cost of ₹40 lakh in October, 2019. Till March 2020, 75% of the stocks were sold. The Company wants to disclose closing stock at ₹10 Lakh. The expec
Ind AS-2 provides for reversal of the write-down of inventories to :
The IFRS foundation has a ............ governance structure.
Financial Reporting Council (UK) is a :
A corporate balance sheet is also known as:
If we add 'Cost of Capital' to 'Economic Value Added' we get ............
CARO, 2016 applies to a private limited company being a subsidiary or holding company of a public company, having a paid up capital and reserves and surplus not more than .........
CARO, 2016 applies to a private limited company which has a total revenue as disclosed in Schedule III to the Companies Act, 2013 including revenue from discontinuing operations ex
A copy of the financial statements and Board's report duly adopted at the AGM shall be filed with the Registrar within ............ of the date of AGM.
As per Rule 8 of the Companies (Accounts) Rules, 2014, the Report of the Board shall contain the particulars of contracts or arrangements with related parties under Section 188 (1)
CSR and corporate governance represent a ............ between business and society.
Which type of director should be the head of the Stakeholders Grievance Committee ?
Rishabh Ltd. earns a profit after tax ₹3,96,000. Corporate tax is 0.4. Its capital structure consists of equity shares ₹9,60,000; 15% Term Loan ₹4,80,000; Cost of equity is 0.12. I
What is the amount of the unrealized profit to be eliminated, if the parent's year-end inventory includes at ₹5,40,000 goods invoiced to it by its 60% owned subsidiary at cost plus
Pre-acquisition profit in subsidiary company is considered as:
If cost of acquisition of shares in the subsidiary company is more than intrinsic value of the shares of subsidiary company on the date of acquisition, then resultant figure will b
Unrealized profit on goods sold and included in stock is deducted from:
Manager of Malabar Ltd. is entitled to a commission @ 3% on net profit after charging such commission. Calculate the commission payable to the manager. Net profit before tax and ma
Computers taken on hire by a business for a period of twelve months should be classified as:
The arrangement of assets and liabilities in accordance with a particular order is known as ............ of balance sheet.
Provisions are ............
Which of the following is capital reserve?
As per the provisions of the Companies Act, 2013, companies must maintain their accounts under ............
Provisions of Corporate Social Responsibility (CSR) are applicable to the company having net profit of ............
............ shall mean any amount written off or retained by way of providing for depreciation, renewals or diminution in value of assets, or retained by way of providing for any
Unmarked application has to be distributed to underwriters in the ratio of ............
Applications bearing the stamp of the respective underwriter are called as ............
Underwriting is a contract of :
There shall be a minimum vesting period of ............ in case of Employee Stock Option Scheme (ESOS).
Where the right to obtain Shares or Stock options expires unexercised, the balance standing to the credit of Employee Stock Option Outstanding A/c should be transferred to :
Under the ............ employees are given an option to purchase shares on the spot at a discount price.
"Interest accrued & due on debentures" is shown ............
Discount on issue of debentures is a :
Tax deducted at source on interest on debenture is shown as ............
T Ltd. purchased machinery from N Company for a book value of ₹4,00,000. The consideration was paid by issue of 10% debentures of ₹100 each at a premium of 25%. The debenture accou
K Ltd. issued 5,000, 12% debentures of ₹100 each at a premium of 10%, which are redeemable after 10 years at a premium of 20%. The amount of loss on redemption of debentures to be
As per Section 68 of the Companies Act, 2013, post buyback, debt equity ratio should not exceed ............
Where a company buys back own shares or other specified securities, it shall extinguish and physically destroy the shares or securities so brought back within ............ of the l
Declaration of solvency in relation to buy back of shares has to be filed in ............
Paid-up equity shares capital of Novel Ltd. is ₹50,00,000 having face value of ₹10 each fully paid-up. Other details: General Reserve = ₹15,00,000 Capital Redemption Reserve = ₹4,0
Negi Ltd. had 90,000 equity shares of ₹100 each, fully paid up. The company decided to buy back 10% shares at par by the issue of sufficient number of preference shares. Company do
Which of the following cannot be used for the purpose of creation of capital redemption reserve account?
According to section 52 of the Companies Act, 2013, the amount in the Securities Premium A/c cannot be used for the purpose of :
Which of the following statements is correct?
Capital Redemption Reserve Account may be applied to issue ............
Preference shares amounting to ₹2,00,000 are redeemed at a premium of 5% by issue of equity shares amounting to ₹1,00,000 at a premium of 10%. What is the amount to be transferred
J Ltd. had 3,000, 12% Redeemable Preference Shares of ₹100 each, fully paid up. The company issued 25,000 equity shares of ₹10 each at par and 1,000 14% Debentures of ₹100 each. Th
The notice relating to offer for right issue shall be dispatched through registered post or speed post or through electronic mode to all the existing shareholders at least ........
If company makes bonus issue at 2 : 3, then it means :
............ are shares issued by a company free of cost to its existing shareholders.
............ refers to that part of the authorized capital which has actually been offered to the public for subscription.
Premium on issue of shares must be treated as ............
Premium on issue of shares must be credited to a separate account called ............
Amount received as calls-in-advance is a ............ of the company.
Amount due on calls made but not paid is known as ............
............ may be said to be the compulsory termination of membership by way of penalty for non-payment of allotment and/or any call money.
A company has a subscribed capital of 2,00,000 equity shares of ₹25 each, ₹20 per share called up. The directors forfeited 200 equity held by a shareholder who failed to pay the fi
One Person Company (OPC) shall file a copy of the financial statements duly adopted by its member, along with all the documents which are required to be attached to such financial
Declared dividend must be paid within ............ of declaration.
The following information is pertaining to A Ltd. Current ratio : 4 Acid Test ratio : 2.8 Current liabilities : ₹31.00 Lakh Find out the value of Inventory.
P Ltd. furnished the following information : Cost of Goods Sold : ₹6 Lakh Net Profit : ₹3 Lakh Sales Return : ₹1 Lakh If the net profit margin of P Ltd. was 25%, then the gross pro
Which of the following is classified as liquidity ratio?
A Liquid ratio lower than 1 : 1 shows :
If a concern has a very high stock turnover ratio, which of the following statement is False ?
............ examine the policy of the company regarding of dividend and retain earning.
The focus of Management accounting is on :
Cost of Goods ............
S Ltd. has fixed cost of ₹60,000 P.A. It manufactures a single product which it sells for ₹20 per unit. Its P/V ratio is 40%. S. Ltd. Break-even Point in Units is:
Activity based cost system would probably provide the greatest benefits for organization that use ............
In marginal costing, stock is valued at ............
An increase in selling price ............
Fixed Cost = ₹2,00,000, Sales = ₹8,00,000, P/V Ratio = 30%; the amount of profit is ............
A Budget that gives a summary of all the functional budget and projected Profit & Loss Account is known as ............
The difference between fixed cost and variable cost has significance in preparation of ............
Which of the following would be found in a Cash budget ?
Reliable Ltd. has given the following data : Budget Production = 800 Units Standard hours per unit = 25 Actual production = 576 units Actual Working = 12,000 hours What is the Effi
When the required rate of return is equal to the coupon rate, then the market value of a bond is ............
The β (Beta) of a risk free stock is :
Which of the following investment decision is required to be taken for a stock, if its intrinsic value is greater than its market value ?
Earnings Per Share (EPS) is equal to :
Interest coverage ratio = 6, indicates :
Debtors turnover ratio reflects :
XYZ. Ltd. books of accounts show profit from operation (EBDIT) at ₹500 Lakh. It paid 12% on a debt of 1,000 Lakh. Depreciation is ₹100 Lakh and Tax is 35%, PAT will be :
The Budget sales for the next 4 quarter are - ₹1,92,000, ₹2,88,000, ₹2,88,000 and ₹3,36,000 respectively. It is estimated that sales will be paid for as follows: 75% of the sales w
The base of cost audit report is ............
P Ltd. issue ₹50,000 8% Debenture at a discount of 5%. The tax rate is 50%. The cost of debt capital is ............
In case of rising prices (Inflation), FIFO method will ............
A management consultancy recovers overheads on chargeable consulting hours. Budget overheads were ₹6,15,000 and actual consulting hours were 32,150. Overhead were under recovered b
Every specified company including all units and branches thereof shall maintain cost records in ............ in respect of each financial year.
Cost Auditor is appointed by the ............
Find out the goodwill of the company from the following information : Total Capital Employed = ₹8,00,000 Reasonable Rate of return = 15% Profits for the year = ₹12,00,000 Use capit
Which of the following is not a method of business valuation?
Which of the following is not the method of valuation of Goodwill?

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